Udemy|Identify & Define the Problem with Business Analysis|Part 6|Determine Value + Create Project Proposal + Gain Approvel

 

1. Determine Value

Value is when a need is met. So you meet some type of need generally with some type of project in this case and it creates value.

That value could be both intangible or tangible. That something like money is the most obvious way. But it could be something intangible as well, such as a time-savings or brand awareness for your company.

Now there's two things to always keep in mind with value.

Value is time sensitive, meaning what is of value right now, today, may not have be of value tomorrow.

Value is different based on your perspective. What is valuable to a manager working in a corporation may not be a value to an executive working in that same corporation.

You need to understand what need you're gonna be meeting, the value that's going to be created from that, whether it's tangible or intangible, and then who that value is actually helping, what perspectives are gaining the value and how long will that value last.

Is this something that the value's going to be there for the longterm?

Is it worth the time to go create the value?

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